Southern California-based beverage company AQUAhydrate Inc has received $10 million in debt financing from Salus Capital Partners LLC. Joseph J. Messina, president of Intercontinental Beverage Capital Inc, advised AQUAhydrate on the transaction. According to the company, the funding will be used for working and growth capital needs.
BOSTON, Feb. 5, 2015 /PRNewswire/ — Salus Capital Partners, LLC, announced it has provided up to $10 million in debt financing to AQUAhydrate, Inc., a Southern California-based performance lifestyle beverage company. The financing will be used to fund the company’s working and growth capital needs.
AQUAhydrate® has pioneered a new category of performance lifestyle beverages and is positioned to transform the beverage industry as consumers continue to switch from high calorie artificial beverages to more innovative and healthy options. AQUAhydrate recently achieved the status of being the fastest growing water company in the US according to AC Nielsen reporting, and is widely regarded as the leader in the alkaline water category.
“We’re very grateful to have Salus Capital in our corner,” said Hal Kravitz, CEO of AQUAhydrate. “Salus carries with them a strong capability in structuring loans and a passion for seeing businesses thrive. They’ve been important partners for us at this time of tremendous growth, and we’re thrilled to have their guidance as we continue to explore the possibilities.”
“The AQUAhydrate brand has seen significant expansion since its inception. Salus is proud to partner under the veteran leadership of Hal Kravitz and his team to help the company meet their growth objectives,” said Andrew H. Moser, Co-Founder, President and CEO and Salus Capital. “We are excited to grow our Food & Beverage industry portfolio with a company who is committed to producing an innovative and high quality product.”
AQUAhydrate was advised by Joseph J. Messina, President, Intercontinental Beverage Capital Inc. (IBC) a New York-based Merchant Bank focused specifically on the beverage and consumer packaged goods industries. IBC acted as the Placement Agent for the transaction.
About Salus Capital Partners, LLC
Salus Capital is a direct originator of secured asset-based loans to the middle market across a variety of industries with additional complementary financing throughout the capital structure. Target transaction sizes range from $5 to $50 million, with the ability to hold up to $100 million and to syndicate larger transactions. The Salus Capital platform may also serve as an asset manager for like-minded institutional investors such as community and regional banks, insurance companies, family offices, private equity funds and hedge funds who may lack the infrastructure and dedicated competency within senior secured lending. For more information, please visit www.saluscapital.com
AQUAhydrate, Inc. is a Southern California-based performance lifestyle beverage geared towards the new generation of Millennial consumers. Through a proprietary process, its water is purified to some of the most rigorous standards in the industry, supplemented with electrolytes and natural trace minerals and then elevated to an alkaline pH of over 9. It is this powerful synergy between alkalinity, electrolytes and minerals which fuels ultimate hydration, balance and performance. AQUAhydrate is the water of choice for a myriad of health/fitness authorities, professional athletes, and sports teams. AQUAhydrate also boasts active investors and board members Mark Wahlberg and Sean “Diddy” Combs as owners. AQUAhydrate is available at retail locations across the U.S. and at www.aquahydrate.com. Follow on Facebook (facebook.com/AQUAhydrate) and Twitter (@AQUAhydrate).